Magnus Financial Group LLC Lowers Stock Holdings in Alphabet Inc. $GOOGL

Key Points

• Magnus Financial Group LLC reduced its holdings in Alphabet Inc. by 8.2%, selling 3,615 shares in the second quarter and retaining a total of 40,513 shares valued at $7.14 million.
• Insider transactions reveal significant sales, with CEO Sundar Pichai selling 32,500 shares for approximately $8.1 million and Director Kavitark Ram Shriram offloading 15,000 shares worth nearly $2.79 million.
• Alphabet's stock performance shows a market capitalization of $2.95 trillion, with a price-to-earnings ratio of 25.99 and a quarterly dividend of $0.21, providing a yield of 0.3%.

Magnus Financial Group LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,513 shares of the information services provider's stock after selling 3,615 shares during the quarter. Magnus Financial Group LLC's holdings in Alphabet were worth $7,140,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Missouri Trust & Investment Co increased its holdings in Alphabet by 0.3% during the 2nd quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider's stock worth $2,981,000 after purchasing an additional 55 shares in the last quarter. AM Investment Strategies LLC lifted its stake in Alphabet by 0.9% in the 2nd quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider's stock valued at $1,141,000 after purchasing an additional 57 shares during the last quarter. Bfsg LLC lifted its stake in Alphabet by 0.6% in the 2nd quarter. Bfsg LLC now owns 10,428 shares of the information services provider's stock valued at $1,838,000 after purchasing an additional 59 shares during the last quarter. Enzi Wealth lifted its stake in Alphabet by 2.5% in the 1st quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after purchasing an additional 62 shares during the last quarter. Finally, Park Capital Management LLC WI raised its holdings in Alphabet by 1.1% in the 2nd quarter. Park Capital Management LLC WI now owns 6,005 shares of the information services provider's stock valued at $1,058,000 after acquiring an additional 65 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $2,786,400.00. Following the sale, the director owned 240,400 shares in the company, valued at $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the completion of the sale, the chief executive officer owned 2,397,392 shares in the company, valued at $598,149,304. This represents a 1.34% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 257,866 shares of company stock valued at $52,363,610. Corporate insiders own 11.55% of the company's stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $244.05 on Tuesday. The company's 50 day simple moving average is $217.01 and its 200 day simple moving average is $183.83. The stock has a market capitalization of $2.95 trillion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 1.66 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $256.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The business had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Monday, September 8th were given a $0.21 dividend. The ex-dividend date was Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.

Analysts Set New Price Targets

Several research firms have weighed in on GOOGL. UBS Group increased their price target on shares of Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Roth Capital increased their price target on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Phillip Securities cut shares of Alphabet from a "strong-buy" rating to a "moderate buy" rating in a report on Monday, September 8th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Alphabet in a report on Wednesday, September 3rd. Finally, KeyCorp raised their target price on shares of Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $233.44.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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